Washington Water Service Acquires Stroh’s Water Company
18 Julho 2023 - 9:45AM
Washington Water Service (Washington Water), a subsidiary of
California Water Service Group (Group) (NYSE: CWT), yesterday
completed the acquisition of Stroh’s Water Company’s (Stroh’s
Water) water system assets. The closing follows approval by the
Washington Utilities and Transportation Commission (WUTC) in
October 2022.
Washington Water has served Stroh’s Water’s 900 customer
connections since March 2021 through an operation and maintenance
agreement, and has supported the utility on an emergency basis for
more than 20 years. Washington Water plans to connect Stroh’s
system with its surrounding Gig Harbor systems in the future to
improve water service reliability to both Stroh’s Water and
existing Washington Water customers.
“We are glad to have worked with the Stroh’s Water family over
the past few decades, and are pleased to officially welcome their
customers to Washington Water,” said Martin A. Kropelnicki, Group
President and Chief Executive Officer. “We look forward to
continuing to provide them with high-quality water and excellent
service for decades to come.”
About Washington Water Service and California Water
Service GroupWashington Water Service provides
high-quality, reliable water utility service to 38,600 customer
connections in Clallam, Jefferson, Kitsap, Mason, Pierce, King, San
Juan, and Thurston counties, as well as wastewater service on Orcas
Island. It is a subsidiary of California Water Service Group (NYSE:
CWT), the largest regulated water utility in the western United
States. In total, Group serves more than 2 million people in
California, Hawaii, New Mexico, Washington, and Texas through its
regulated subsidiaries, California Water Service, Hawaii Water
Service, New Mexico Water Service, and Washington Water Service,
and its utility holding company, Texas Water Service.
What sets Washington Water and Group apart is their commitment
to enhancing the quality of life for their customers, communities,
employees, and stockholders. Guided daily by their promise to
provide quality, service, and value, the company’s employees lead
the way in working to protect the planet, care for people, and
operate with the utmost integrity. Integral to their strategy
is investing responsibly in water and wastewater infrastructure,
sustainability initiatives, and community well-being. The
company has been named one of “America’s Most Responsible
Companies” and “America’s Most Trustworthy Companies” by Newsweek
and a Great Place to Work®. More information is available
at www.wawater.com and www.calwatergroup.com.
This news release contains forward-looking statements within the
meaning established by the Private Securities Litigation Reform Act
of 1995 ("Act"). The forward-looking statements are intended to
qualify under provisions of the federal securities laws for "safe
harbor" treatment established by the Act. Forward-looking
statements in this news release are based on currently available
information, expectations, estimates, assumptions and projections,
and management's beliefs, assumptions, judgments, and expectations
about Group and its subsidiaries, the water utility industry
and general economic conditions. These statements are not
statements of historical fact. When used in our document,
statements that are not historical in nature, including words like
promise, commitment, strategy, would, expects, intends, plans,
believes, may, could, estimates, assumes, anticipates, projects,
predicts, forecasts, targets, seeks, should, or variations of such
words or similar expressions are intended to identify
forward-looking statements. The forward-looking statements are not
guarantees of future performance. They are based on numerous
assumptions that Group believes are reasonable but are subject to
uncertainty and changes in circumstances. Actual results may vary
materially from what is contained in a forward-looking statement.
Factors that may cause actual results to be different than those
expected or anticipated include, but are not limited to:
ability to integrate the business and operate
the Stroh’s Water system in an effective and
accretive manner; natural disasters, public health crises,
pandemics, epidemics or outbreaks of a contagious disease, such as
the outbreak of coronavirus (or COVID‐19); governmental and
regulatory commissions' decisions, including decisions on proper
disposition of property; consequences of eminent domain actions
relating to our water systems; changes in regulatory commissions'
policies and procedures; the timeliness of regulatory commissions'
actions concerning rate relief and other actions; changes in water
quality standards; changes in environmental compliance and water
quality requirements; electric power interruptions; housing and
customer growth trends; the impact of opposition to rate increases;
our ability to recover costs; availability of water supplies;
issues with the implementation, maintenance or security of our
information technology systems; civil disturbances or terrorist
threats or acts; the adequacy of our efforts to mitigate physical
and cyber security risks and threats; the ability of our enterprise
risk management processes to identify or address risks adequately;
labor relations matters as we negotiate with unions; changes in
customer water use patterns and the effects of conservation; the
impact of weather, climate, natural disasters, and diseases on
water quality, water availability, water sales and operating
results, and the adequacy of our emergency preparedness;
and other risks and unforeseen events. When considering
forward-looking statements, you should keep in mind the cautionary
statements included in this paragraph, as well as the Annual 10-K,
Quarterly 10-Q, and other reports filed by Group from
time-to-time with the Securities and Exchange Commission
(SEC). Group is under no obligation, and assumes no
obligation, to provide public updates of forward-looking
statements, whether as a result of new information, future events,
or otherwise.
Contact: Yvonne Kingman, (310) 257-1434
California Water Service (NYSE:CWT)
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